BITCOIN SELLS OFF, EXPECT VOLATILITY; Gold Sits

Bitcoin Gold

Welcome to our new streamlined format for Bitcoin vs Gold (and beyond) and look for additional changes over the coming weeks, including a new logo and more. 

FintekNews compares the price of Bitcoin, Gold & Major Market Averages on a daily basis, and uses the Chicago Mercantile Exchange’s (CME) bitcoin indexes (BRR & BRTI) for bitcoin pricing.

5/29/17 Closing Prices:

Bitcoin: $2,235.74 (-$149.57)
Gold:
 $1,267 (-0-)
Dow Jones Industrials: 21,080.28 (-2.67)
S&P500: 2,415.82 (+0.75)
Nasdaq Composite: 6,210.19 (+4.94)

CME CF Bitcoin Reference Rate & CME CF Bitcoin Real Time Index

Trading Summary Notes for Monday, 5/29/17:

  • Bitcoin sells off after historic run up. Settling down is a healthy thing.
  • Bitcoin looks to continue sell off. Probably NOT as deep as many think.
  • Expect bitcoin volatility to continue.
  • Gold pops up. Still in tight range.
  • Gold upside resistance @ $1285-$1300
  • Gold has support @ $1225-$1235

NO CURRENT POSITION

Past Market

Read our PRIOR daily commentaries on Bitcoin vs Gold here

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